Making choices by selecting the best feasible option, given the available information is referred to as:
A) optimization. B) delegation. C) imposition. D) actualization.
A
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If the interest rate is 8 percent, $54 next year is worth __________ today
a. $62 b. $50.68 c. $50 d. $62 e. $4.32
Define the following terms and explain their importance to the study of macroeconomics:
a. Phillips curve b. rational expectations c. indexing d. stagflation
A stock variable:
a. Is measured at a point in time. b. Is measured over a period of time. c. Is an inconsistency in terms, because something cannot be a "variable" and a "stock" at the same time.
Strictly followed, the single-payer model requires a ban on private insurance for all covered medical services. Which country follows this model most closely?
a. Canada b. Germany c. United Kingdom d. France e. Switzerland